questionText: To ask the Chancellor of the Exchequer, if she will ask the Office for Budget Responsibility to review its (a) price elasticity of demand and (b) other forecasting methodology for alcohol duty revenues.
answerText: The OBR regularly reviews its forecasting methodology. Its forecast is informed by economic factors including real household consumption and underlying trends in alcohol consumption.The OBR published updated price elasticities for alcohol in July 2024.
heading: Alcoholic Drinks: Excise Duties